Short Interest in IO Biotech, Inc. (NASDAQ:IOBT) Grows By 213.1%

Key Points

• Short interest in IO Biotech increased by 213.1%, rising from 122,700 shares to 384,200 shares by July 15th.
• The company's stock is trading at $2.22 with a market cap of approximately $146.26 million. Its 52-week low and high are $0.66 and $2.48, respectively.
• Institutional investors hold 54.76% of IO Biotech's stock, with significant acquisitions made by firms such as Citadel Advisors LLC and Landscape Capital Management L.L.C.

IO Biotech, Inc. (NASDAQ:IOBT - Get Free Report) was the target of a large increase in short interest in July. As of July 15th, there was short interest totaling 384,200 shares, anincreaseof213.1% from the June 30th total of 122,700 shares. Based on an average trading volume of 231,300 shares, the short-interest ratio is currently 1.7 days. Approximately0.8% of the shares of the stock are short sold. Approximately0.8% of the shares of the stock are short sold. Based on an average trading volume of 231,300 shares, the short-interest ratio is currently 1.7 days.

IO Biotech Price Performance

IOBT opened at $2.22 on Monday. The company has a market cap of $146.26 million, a price-to-earnings ratio of -1.49 and a beta of 0.44. The firm has a 50 day simple moving average of $1.59 and a 200 day simple moving average of $1.18. IO Biotech has a fifty-two week low of $0.66 and a fifty-two week high of $2.48.

Institutional Investors Weigh In On IO Biotech

Institutional investors and hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new stake in shares of IO Biotech during the first quarter worth approximately $26,000. XTX Topco Ltd bought a new stake in shares of IO Biotech during the fourth quarter worth approximately $26,000. Renaissance Technologies LLC raised its stake in shares of IO Biotech by 22.5% during the fourth quarter. Renaissance Technologies LLC now owns 118,800 shares of the company's stock worth $109,000 after buying an additional 21,800 shares during the last quarter. Citadel Advisors LLC bought a new stake in shares of IO Biotech during the fourth quarter worth approximately $249,000. Finally, Landscape Capital Management L.L.C. bought a new stake in shares of IO Biotech during the fourth quarter worth approximately $407,000. 54.76% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Wall Street Zen raised shares of IO Biotech to a "sell" rating in a report on Saturday, June 14th. HC Wainwright reissued a "buy" rating on shares of IO Biotech in a report on Wednesday, May 14th.

IO Biotech Company Profile

IO Biotech, Inc, a clinical-stage biopharmaceutical company, develops immune-modulating therapeutic cancer vaccines based on the T-win technology platform. The company's lead product candidate, IO102-IO103, which is designed to target immunosuppressive mechanisms mediated by Indoleamine 2,3-dehydrogenase (IDO), and programmed death-ligand (PD-L1) that is in phase 3 clinical trial to treat melanoma, as well as in phase 2 clinical trial to treat lung, head and neck, bladder, and melanoma cancer.

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